India's tourism industry booms with the state of the economy & the government is now throwing big bucks to promote the industry
Last updated: 08-Jul-2024•Mohammed Ekramul Haque
India's tourism industry booms with the state of the economy. The industry was hit hard post the financial crisis of 2008. The fortunes of hotels have not changed much since. There is more supply and lower demand. The balance sheets of many hoteliers are weighed down with debt accumulated to develop assets-many of which are now up for sale. Nine hotels received approvals for corporate debt restructuring amounting to ₹4,600 crore in 2012-2013.
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